Calling the move one of the "most unwise, ill-prepared decision any government could take", Singh said the ruling party showed a total lack of understanding as to what a huge misery the decision to scrap 86 per cent of the currency in circulation would cause in a cash-based economy like India.

"Rich tributes were paid by the Army today to its soldiers who attained martyrdom in Pakistan's dastardly action along the Line of Control in Machhil sector of Kupwara yesterday," an army spokesman said.